Fannie Mae and Freddie Mac would be eliminated and private interests would be on the hook for the first 10 percent of mortgage losses under a bill that leaders of the Senate Banking Committee plan to introduce within days.

The bipartisan measure, drafted with input from President Barack Obama’s administration, would replace the U.S.-owned mortgage financiers with a government insurer behind private capital, Senate Banking Committee Chairman Tim Johnson and Sen. Mike Crapo said in a statement Tuesday.

The bill would require most borrowers to make down payments of at least 5 percent in the new housing-finance system.

“This agreement moves us closer to ending the five-year status quo and beginning the wind down of Fannie and Freddie while protecting taxpayers with strong private capital, building the components for a stable secondary market and avoiding repeating the mistakes of the past,” said Crapo of Idaho, the panel’s top Republican.

Crapo and Johnson, a South Dakota Democrat, have been facing mounting pressure to introduce the legislation with enough time left to push it through so it could become law this year. Even with enough time, it is far from certain that the Senate and the Republican-led House will reach agreement on a bill and pass it to Obama for approval.

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A prominent white nationalist is suing Twitter for banning his accounts at a time when social networks are trying to crack down on hateful and abusive content without appearing to censor unpopular opinions.

The social media service Twitter is believed to have suspended thousands of accounts for being automated bots, or for other policy violations, drawing outcry from fringe conservative media figures who lost followers in the move.

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